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Banking Firm's Lawsuit Over $6.8M Fee Is Rejected, New York Law Journal

February 07, 2017

An investment banking firm has lost its dispute over a completion fee for the investment in an American foundry business by a Japanese materials company.

Southern District Judge George Daniels granted summary judgment against TrueNorth Capital, which alleged that it should get a $6.8 million fee for the $1.3 billion acquisition of Waupaca Foundry Company in 2014 by Hitachi Metals America (HMA), a subsidiary of Hitachi Metals Ltd.